Group in move to attract bigger investors for new Wellington cinema scheme
A group trying to bring a cinema to Wellington are making plans on how to redevelop a former bank.
Earlier this year it was revealed that the progress had been made by the Clifton Community Arts Centre to secure a short term lease on the former HSBC bank on Station Approach.
In October last year, the group, which was set up to try and save the former Clifton Cinema, announced plans to apply for a five-year-lease for the building, after it was agreed at a meeting that the group would look at other locations with the future of the Clifton remaining uncertain and dialogue limited with owners Dunelm.
A preliminary examination of the building has shown it could be feasible to create an 80 plus seat cinema and cafe-bar on the ground floor and use the upper floors for rehearsal rooms, readings, classes, craft workshops and young people's activities.
Now, the group says its initial funding will need to be in the region of £315,000, which will be met through a mixture of shares from its scheme, retained profits loans and grants.
In its update, sent out to shareholders and interested parties, it says that the group is planning to publish an expanded share document in a bid to attract larger investors and has made an expression of interest to receive funding through grants to mark Telford's 50th anniversary.
It also says that over the past few months since the announcement, the group has been busy planning the next steps to get the HSBC building into a fit state for trading.
The report says: "We will concentrate on opening the cinema and cafe-bar area before moving on to other accommodation.
"In the last few weeks we have appointed a project manager to assist us, are in the process of making a pre-planning application enquiry and have approached a local business to be the main contractor."
The group also plans to contact businesses to see what they feel that rooms in the building should be used for. There are eight rooms on the second floor, and the group says it would like to find out what the public thinks they should be used for.
In particular, it says it would like to hear from businesses which might be interested in occupying some of the space.
The report says: "In the meantime we would like to thank you sincerely for your continued support."
